eSilicon Corporation, a leading supplier of custom integrated circuits, today announced the completion of $15 million in Series F financing, bringing the total amount of venture funding to $86 million. The round was led by Investor Growth Capital, with participation from existing shareholders as well as two other new investors, NIF Ventures and CrossBridge Venture Partners. The Series F funding, which represented an increase in valuation for eSilicon(TM), will provide working capital to expand operations internationally.
"We are delighted to add such a strong group of international investors to our team," said Jack Harding, chairman, president and CEO of eSilicon. "eSilicon passed the profitability milestone in the third quarter of 2004 and the company is also generating cash. This new funding will facilitate rapid expansion internationally. The strength of our investment and operations team now extends throughout Europe and Asia."
The new group of investors represents a diverse and powerful international profile. Investor Growth Capital's parent, Investor AB, is a strong multi-national organization headquartered in Stockholm, Sweden. NIF Ventures, an affiliate of the Daiwa Securities Group, is one of Japan's leading venture firms, headquartered in Tokyo. CrossBridge Venture Partners, also headquartered in Tokyo, specializes in linking Silicon Valley companies to the Asian market.
"Our focus, through investment operations in both Asia and the U.S., on out-sourcing trends in semiconductor design and manufacturing led us to eSilicon. We have been monitoring the company for more than a year now and are impressed with eSilicon's substantial progress to-date and opportunity for continued dramatic growth in the future," said Jose Suarez, vice president of Investor Growth Capital and eSilicon board member. "The semiconductor industry is in need of a new business approach to rapidly deploy custom chips, and eSilicon has developed a winning model."
"eSilicon has entered the Japan market recently with a strong management team, advisory board and partnership network," said Shohei Sakazaki, Managing Director of NIF's Silicon Valley office. "We look forward to collaborating with eSilicon and its partners in assisting and enabling semiconductor startups in Japan. The resources of NIF and Daiwa will help eSilicon build a solid business in Asia."
Editor's note: See eSilicon's press announcement, "eSilicon Announces the Formation of eSilicon K.K. Japan," dated Dec. 6, 2004 for additional details.
eSilicon, a semiconductor company, acts as a custom chip "general contractor," taking chip designs through the entire process from design implementation to manufacturing, packaging, test and final delivery. The company's primary revenue source is custom chip delivery, which is achieved with a combination of in-house expertise and supply chain partnerships.
About eSilicon Corporation
eSilicon Corporation is a semiconductor company that manufactures and designs custom chips for the world's leading electronics companies. eSilicon(TM) acts as a general contractor for custom chip development, integrating the capabilities of an outsourced, tier-one global supply chain with its own deep domain expertise. Offering the industry's most flexible engagement practices, our experienced manufacturing and design teams provide complete support at each step along the way to qualified packaged tested, custom chips. Our patented software systems also provide 24x7 visibility throughout the manufacturing phase. The company is headquartered in Sunnyvale, Calif., with offices in Allentown, Pa.; Murray Hill, N.J.; and, Shin Yokohama, Japan. For more information, visit http://www.esilicon.com. eSilicon -- You architect the future, we'll manage the construction
About Investor Growth Capital
Investor Growth Capital (IGC) is a venture capital and private equity advisory group wholly owned by Investor AB of Sweden. IGC has a capital allocation of USD 1.8 billion and offices in North America, Europe and Asia. IGC is an active investor in young technology and healthcare companies. IGC accesses Investor AB's extensive global network of companies and senior managers to assist in the growth and development of its portfolio companies. For additional information about Investor Growth Capital, and Investor AB, please visit www.investorab.com.
About NIF Ventures
NIF Ventures is the venture capital and private equity arm of the Daiwa Securities Group. Since its establishment in Tokyo in 1982, NIF has invested in more than 1,560 private companies and assisted more than 460 investees with IPOs. NIF currently manages approximately $1 billion funds globally for its shareholders and limited partners. It has offices in Tokyo, Nagoya, Osaka, Fukuoka, Shanghai, and Palo Alto. Visit www.nifventures.com for more information.
About CrossBridge Venture Partners
CrossBridge is a private equity fund managed by a group of highly experienced investment professionals at CrossBridge Ventures who have successfully teamed together in the past. The primary aim is to earn substantial capital gains by linking the explosive growth of Silicon Valley technology companies to the Asian markets. Please visit www.crossbridgevp.com for more information.